Toronto, Ontario--(Newsfile Corp. - September 24, 2020) - Xtierra Inc. (TSXV: XAG) ("Xtierra" or the "Company") intends to undertake a small drill campaign of 5 holes for a total of 1500 meters into two previously identified areas of high grade silver mineralization. The first target area is located adjacent to and west of the main Bilbao Silver-Lead-Zinc deposit. The key prior drilling results (silver only) from the period 2010-2013 (See July 7, 2010 PR) are summarized in below. This high grade silver zone runs north-south over a strike length of approximately 500 meters (see map below):
| Drill Hole |
From |
To |
Metres |
g/t Ag |
| X42 |
181.00 |
182.00 |
1.00 |
182 |
| X75 |
252.30 |
253.00 |
0.70 |
2047 |
| X34 |
311.00 |
313.00 |
2.00 |
711 |
| X37 |
320.00 |
322.00 |
2.00 |
330 |
| X26 |
381.00 |
387.00 |
6.00 |
847 |
| X26 |
361.00 |
362.00 |
1.00 |
582 |
| X84B |
357.30 |
360.55 |
3.25 |
412 |
| X85 |
159.00 |
171.00 |
12.00 |
127 |
| X96 |
230.00 |
232.00 |
2.00 |
373 |
| X100 |
225.00 |
226.00 |
1.00 |
810 |
Location of the drill holes for exploration in the Silver zone to the SW of Bilbao
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Samples from half-core were prepared at the Stewart Group laboratory in Zacatecas and analyzed for multi-element content using ICP-MS by Stewart Group in Kamloops, British Columbia. Standards and blanks were used regularly for quality control. Significant mineralized intervals are reported in the table as core lengths and estimated true thickness (70 to 95 per cent of core length).
The objective of drilling 2 holes into this silver zone is to confirm the continuity of the high grade silver values to the northwest between drill holes X42 and X75 and to the south between drill holes X84B and X96 which are separated by 100 meters.
The second zone, called El Cabezon is a former silver mine operated by the Frisco Industrial Group, located 1.5 km south of Bilbao. The vein is exposed over 600 meters so the objective is to drill 2 holes in search of the continuity of the mineralization of the silver vein below the old mine where 3 levels were exploited. A third hole is planned to seek the continuity 400 meters to the northwest of the first drill hole and is located in the Bilbao 2 concession. As previously reported, this area has potential to offer additional tonnage based on similar results from trenching, sampling and soil geochemistry.
"The review of prior exploration reports and drill results from 2010-2013, identified 8 targets for potential satellite mineralization around the main Bilbao deposit, two of which stand out with high grade silver potential and therefore merit drilling, especially with the much improved outlook for silver prices, approaching the US$30 per ounce level used in the 2014 RPM PEA. Xtierra invested over $30 million into Bilbao and would like to monetize this asset into a cash flowing royalty and enable the company to focus royalty acquisitions in order to maximize value for shareholders," commented Tim Gallagher, President.
Qualified Person
Scientific and technical information disclosed in this press release was prepared by or under the supervision of and approved by Gerry J. Gauthier, P. Eng., a Director and former President of the Company and a 'qualified person' within the meaning of NI 43-101.
* * * * * *
About Xtierra Inc.
Xtierra is a natural resource company with precious and base metal mineral properties in the Central Silver Belt of Mexico in the State of Zacatecas and is pursuing new opportunities including identifying and evaluating new potential royalty acquisitions.
Xtierra holds a 100% interest, subject to a 1.5% net smelter royalty repurchased in July 2019, on the Bilbao project silver-lead-zinc-copper project located in the southeastern part of the State of Zacatecas.
Xtierra owns 88% of the shares of Minera Portree de Zacatecas, S.A. de C.V ("Minera Portree") which holds various legal or royalty interests in certain mineral properties in Mexico, including the Company's Bilbao property, and an asserted claim to a 2% net smelter royalty on six mining concessions located adjacent to the Cozamin Mine operated by Capstone Mining Corp., which claim is challenged by Capstone.
For further information contact Xtierra Inc. at info@xtierra.ca.
John F. Kearney
Chairman
(416) 362-6686
Tim Gallagher
President & Director
(416) 925‐0090
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